Pi Capital Partners snags $60M refi for Elmhurst resi building

Pi Capital Partners has landed a $60 million mortgage to refinance construction debt at its new residential building in Elmhurst. The debt is a five-year, fixed-rate loan from First Republic Bank for 85-15 Queens Boulevard, according to property records and sources familiar with the deal. It replaces $55 million in prior financing from People’s United Bank. Cary Pollack and Judah Neuman of Meridian Capital Group brokered the deal. The 250,000-square-foot building is known as Elm West […]

Source: Real Estate

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